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Mon 13 Jul 2009, 05:24 GMT

Singapore Market Commentary (with evening update)

Evening Price Update

Fueloil cargo closed steady to marginally higher, supported by two deals traded on screen; Gasoil cargo concluded softer by USD0.60/BBL, and with a physical deal changing hands. Delivered prices were quoted almost on a par with last Friday, except Distillates which is offering lower generally.

Ex-wharf loading is still tight and our earliest delivery is looking 17th-18th/Jul onwards. WTI Access trading is showing weak now. Meantime, our bunker indication is revised lower only for the MDO/MGO, amid near average demand so far.

Morning Commentary

NYMEX Crude closed softer on closing last Friday to settle at USD59.89 a barrel and WTI Access trading is showing slightly weak this morning.

Similarly, Fueloil paper was pegged lower by USD2.25/MT today yet Gasoil paper was valued steady to marginally higher. Ex-wharf loading still maintaining some tightness and we shall keep an update this afternoon. Meantime, our bunker indication remains broadly unchanged for all grades.

MGO   Singapore  Singapore (SG) 
Arctic Tern vessel. Wallenius Wilhelmsen takes delivery of first methanol-ready Shaper Class vessel  

The dual-fuel Arctic Tern will enter service on the Asia–Europe trade almost immediately.
Al Muraykh vessel. Hapag-Lloyd signs shore power agreement with Hamburg Port Authority  

Deal commits the carrier to using onshore power supply at all Hamburg terminals.
Dorthe Karin Bendtsen, KPI OceanConnect. KPI OceanConnect reports 21% rise in pre-tax earnings for 2025/26  

Marine fuel firm delivers 13 million tonnes and expands carbon markets capabilities amid geopolitical turbulence.
VTTI logo. VTTI Dalian completes first large-scale 'green methanol' vessel loading  

Cargo to be supplied as marine fuel in Shanghai.
Steff Tan, Oilmar. Oilmar appoints Steff Tan as marine fuels trader in Singapore  

New hire's background spans bunker operations, logistics, commercial trading, marketing, and business development.
Feng Da Hai vessel. Cosco Shipping adds methanol-ready bulk carrier Feng Da Hai to fleet  

The 64,000-tonne vessel is equipped with a methanol fuel system for future low-carbon operations.
Oilmar office in Dubai. Oilmar welcomes summer intern to Dubai branch  

Arpit Aryan will rotate across the bunker fuel trading, finance and operations departments.
Aerial view of the Dubai skyline. Oilmar takes on trading and finance intern in Dubai  

New intern to rotate across trading, operations and finance teams.
Seaspan and Maersk signing. Seaspan and Maersk deepen fleet efficiency collaboration with $75m upgrade programme  

Retrofit package for four 13,000-teu vessels includes installation of shaft generator to reduce auxiliary engine fuel consumption.
European Parliament building in Brussels. EU Parliament vote on soy biofuels could expose bloc to $5.6bn a year in trade sanctions  

MEPs reject regulation that would have phased out soy biofuels, risking WTO retaliation penalties.




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